The Swedish fashion retailer Hennes & Mauritz AB (H&M) saw its China sales reach SEK 1.61 billion ($219.01 million) in 2008/2009 up 83 percent year-on-year, or 51 percent in local currency, the company said in its annual report yesterday.
Its China growth pace seconds only to Japan, which reports 461 percent annual growth in SEK,or 324 percent in the local currency of yen.
H&M operates 27 stores in China as of the end of November, with 14 of them newly opened within the year.
The company's global sales for the financial year amounted to SEK 118.697 billion, an increase of 15 percent year-on-year, or 4 percent in local currencies.
It operates in 35 countries with 1,988 stores, 362 of which are in Germany.
